Market Structure Insights
July 25, 2018
The earnings-versus-expectations construct that fixates Wall Street and business journalism as companies report results fuels bets on which shell hides the pea. In fact, the stock market is built now on hiding the pea and moving the shells, apparent in the Fee Pilot debate we’ve...
July 18, 2018
We spent last week in Summit County, famous for Breckenridge and Keystone. With windows open and the sun set, the temperature at 9,000 feet drops fast, great for sleeping. It’s not great for staying awake reading a Kindle but I worked through some exciting pages...
July 11, 2018
This year’s rare midweek July 4 prompted a pause for the Market Structure Map to honor our Republic built on limited government and unbounded individual liberty. Long may it live. Returning to our market narrative: Did you know that 100% of Exchange Traded Fund creations...
June 27, 2018
What’s actionable? It’s a buzzword of business and the investor-relations profession. And, yes, my title violates a rule of grammar because you can’t tell if the topic is a hoax about actionability or if a hoax out there has proved actionable. We’ll answer using the...
June 20, 2018
I hope you enjoyed summer vacation from the Market Structure Map! We skipped last week while immersed in NIRI National, the investor-relations profession’s annual bash, this year at the Wynn in Las Vegas, where at the ModernIR booth these passersby in feathers joined us for...
June 6, 2018
What do these pension funds below have in common? All (over $1.3 trillion of assets), according to Pensions & Investments, periodical for retirement plans, endorse the SEC’s Fee Pilot program on stock-trading in US equities. The California State Teachers’ Retirement System The California Public Employees...